CIBC Asset Management Inc Sells 576 Shares of Unity Software Inc. (NYSE:U)

CIBC Asset Management Inc lessened its holdings in Unity Software Inc. (NYSE:UFree Report) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,712 shares of the company’s stock after selling 576 shares during the period. CIBC Asset Management Inc’s holdings in Unity Software were worth $315,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of U. Norges Bank purchased a new position in shares of Unity Software in the 4th quarter worth approximately $379,180,000. Eagle Asset Management Inc. purchased a new position in Unity Software during the third quarter worth $82,988,000. Vanguard Group Inc. increased its position in Unity Software by 8.3% during the third quarter. Vanguard Group Inc. now owns 25,819,797 shares of the company’s stock valued at $810,483,000 after acquiring an additional 1,972,435 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Unity Software by 14.7% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,131,625 shares of the company’s stock valued at $373,392,000 after acquiring an additional 1,170,058 shares during the period. Finally, Nikko Asset Management Americas Inc. lifted its holdings in shares of Unity Software by 15.9% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 8,539,489 shares of the company’s stock worth $349,094,000 after acquiring an additional 1,169,841 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Stock Performance

Shares of U opened at $17.98 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.70. The firm has a market cap of $7.03 billion, a PE ratio of -8.02 and a beta of 2.29. Unity Software Inc. has a 12 month low of $17.19 and a 12 month high of $50.08. The stock has a fifty day moving average price of $22.52 and a 200-day moving average price of $29.07.

Unity Software (NYSE:UGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.13. The company had revenue of $460.38 million during the quarter, compared to analysts’ expectations of $422.53 million. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. Equities research analysts predict that Unity Software Inc. will post -1.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman James M. Whitehurst sold 49,854 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $19.10, for a total transaction of $952,211.40. Following the sale, the chairman now directly owns 313,266 shares of the company’s stock, valued at $5,983,380.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman James M. Whitehurst sold 49,854 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total value of $952,211.40. Following the sale, the chairman now owns 313,266 shares in the company, valued at $5,983,380.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Carol W. Carpenter sold 2,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.58, for a total transaction of $53,160.00. Following the completion of the sale, the chief marketing officer now owns 444,617 shares in the company, valued at approximately $11,817,919.86. The disclosure for this sale can be found here. Insiders sold 246,297 shares of company stock worth $4,872,320 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup cut their price target on shares of Unity Software from $50.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. The Goldman Sachs Group cut their target price on Unity Software from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Stifel Nicolaus decreased their price target on Unity Software from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler raised Unity Software from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $30.00 in a research report on Tuesday, February 27th. Finally, Macquarie downgraded shares of Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price target on the stock. in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $34.79.

Read Our Latest Research Report on U

Unity Software Profile

(Free Report)

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.

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Institutional Ownership by Quarter for Unity Software (NYSE:U)

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